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Capital Drilling Plc

Algold receives extension for Tijirit gold project

Algold Resources Ltd. has announced that the Mauritanian Ministry of Oil, Energy and Mines (the Ministry) has granted a 12 month extension to the corporation for the completion of the Tijirit gold project feasibility study.

At Algold’s request, the Government of Mauritania granted an extension for the delivery of the feasibility study. This will allow the corporation to pursue more technical work, including drilling, metallurgy and hydrogeology, which can potentially expand the project’s scope and resources. The extension also clearly indicates the Ministry’s confidence in the Tijirit project. The feasibility study was originally scheduled for completion by the end of 2018.

 

Capital Drilling (LON:CAPD) provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 91 drilling rigs with established operations in Botswana, Côte d’Ivoire, Egypt, Ghana, Kenya, Mali, Mauritania and Tanzania. The Group’s corporate headquarters are in Mauritius.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.